Kesler Norman & Wride LLC Sells 4,248 Shares of PPG Industries, Inc. (NYSE:PPG)

Kesler Norman & Wride LLC decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 54.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,566 shares of the specialty chemicals company's stock after selling 4,248 shares during the period. Kesler Norman & Wride LLC's holdings in PPG Industries were worth $426,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of PPG Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after acquiring an additional 756,937 shares in the last quarter. State Street Corp grew its stake in shares of PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company's stock worth $1,552,100,000 after acquiring an additional 491,774 shares in the last quarter. Wellington Management Group LLP grew its position in PPG Industries by 17.7% in the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock worth $1,262,234,000 after purchasing an additional 1,590,041 shares in the last quarter. Geode Capital Management LLC increased its stake in PPG Industries by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock valued at $660,752,000 after buying an additional 93,455 shares during the last quarter. Finally, Norges Bank bought a new position in shares of PPG Industries during the 4th quarter worth approximately $470,535,000. 81.86% of the stock is owned by institutional investors.

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Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company's stock.

PPG Industries Price Performance

PPG stock traded down $2.36 during mid-day trading on Monday, reaching $96.79. 1,149,020 shares of the company traded hands, compared to its average volume of 1,758,183. The company has a fifty day moving average price of $113.74 and a 200-day moving average price of $120.44. The company has a market capitalization of $21.97 billion, a P/E ratio of 20.38, a P/E/G ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a 52-week low of $95.23 and a 52-week high of $142.30. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.81%. PPG Industries's payout ratio is currently 57.51%.

Analyst Upgrades and Downgrades

PPG has been the subject of a number of research analyst reports. UBS Group decreased their price target on PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their price target on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Mizuho lowered their price objective on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut shares of PPG Industries from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Finally, KeyCorp lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $137.77.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.